The numbers have not looked good lately for ag equipment manufacturers, and now, more builders are slowing production to meet dwindling demand.
AgCo says its full-year production will drop by around 25 percent next year compared to 2023. The company had already cut production hours last quarter by around 35 percent, with another 20 percent cut expected next year.
However, AgCo is not alone. John Deere and CNH have both slowed their production and cut employees in recent months.
